After a brief reopening, Greeley’s Kress Cinema & Lounge to close again indefinitely as new movies get pushed back

The Kress Cinema & Lounge will close after Thursday’s showtimes. Courtesy photo.

By Dan England

The Kress Cinema & Lounge is a movie theater. That’s why “Cinema” is in the title. But since the pandemic hit, the usual steady stream of movies has slowed to a kitchen sink’s trickle. That’s why the Kress chose to emphasize the “Lounge” part of its business this week, closing its theater indefinitely after Thursday night’s showtimes. 

The Kress reopened a month ago after a long stretch of silence to show “Tenet,” the Christopher Nolan tour de force that was one of a handful of new movies to be released in theaters, but that was to support the industry more than a chance to make a lot of money, said Justin Ghofrani, one of the owners of the Kress. 

“Tenet” worked as a litmus test of sorts for the industry. 

According to Box Office Mojo, it made about $20.2 million on its opening weekend, showing in 2,930 theaters. 

Cinema Blend described the opening weekend numbers as “mediocre given the existing circumstances.”

As it stands, the film grossed $45.1 million domestically and about $307 million worldwide. 

The brief reopening just bolstered the idea that the industry will need a significant recovery before theaters can thrive again. 

“The numbers weren’t there, and movies just kept getting pushed back,” Ghofrani said. “We are bleeding money, and we bleed less money when we are closed.”

It’s not as bad as it sounds for the Kress, Ghofrani said, as private parties are doing well. The Kress charges $99 for two hours in a theater, on any day and at any time, which includes showing a Blu Ray or DVD on a big screen. Groups of friends in each other’s six, birthday parties and even couples looking for a romantic night alone have rented out theaters. 

“We’ve been so busy with those that we just want to expand on that instead of showing movies on Friday and Saturday,” Ghofrani said. “We will show whatever you like.” 

The Kress Cinema & Lounge will close indefinitely after Thursday’s showtimes. Courtesy photo.

That is, unless you want to see the new James Bond, which got pushed back again until April, along with “Wonder Woman 1984” and other blockbusters that studios refuse to release to middling crowds, given their investments of hundreds of millions of dollars.

“It’s a chicken or the egg thing,” Ghofrani said. “These movies aren’t coming out because the demand isn’t there, but maybe the demand isn’t there because the movies aren’t coming out.”

The results are devastating for theaters across the country. Regal announced it would temporarily close all 536 theaters this week. 

“We are like a grocery shop that doesn’t have vegetables, fruit, meat,” Cineworld CEO Mooky Greidinger told The Wall Street Journal. “We cannot operate for a long time without a product.” 

However, Cinemark, with a theater in Greeley, announced that 80 percent of its theaters will stay open, and AMC said the same thing. Cinemark will continue to host Fright Nights every night at reduced prices — this week included the 40th anniversary showing of “Friday the 13th” — as well as new releases and is also offering private watch parties, according to the website. 

“We are very lucky to be able to provide the private parties like we have,” Ghofrani said. “That’s really working for us in that case.”

Until then, the Kress will revisit opening on Jan. 1, although Ghofrani doesn’t believe he’ll be able to open until spring.

“But there’s so many things in play,” he said. “Will there be a vaccine then? Will it come sooner?”

The Kress Cinema & Lounge will close indefinitely after Thursday’s showtime. Courtesy photo.

The industry tried to adjust, such as Disney’s attempt to charge $30 to stream its live-action remake of “Mulan,” but that flopped, given the movie’s tepid reviews and the public’s resistance to pay so much on a streaming service that’s already charging a monthly fee. 

According to a report by the Atlantic, “Mulan” grossed between $60-90 million, falling significantly short of the movie’s reported $200 million budget. The movie’s theatrical rollout in China also saw lackluster results. 

The streaming services worry Ghofrani, but he also believes movie theaters offer a night out that’s hard to replicate at home. 

“It’s an experience, and the Kress really is an experience,” he said, referring to the Kress’ offerings of food and drink while you watch the movie. “We doubled down on the whole experience factor. That will never go away.”